* Sees FY output at 296-304 bcfe vs 292-302 bcfe forecast
* Oil and liquids accounts for 49 pct of 2nd-qtr production
July 19 Oil and gas producer Newfield
Exploration Co raised its full-year production forecast
for the second time on positive results from its key plays as it
shifts its focus on oil and natural gas liquids.
The company expects full-year output of 296 billions of
cubic feet equivalent (bcfe) to 304 bcfe, up from its previous
forecast of 292 bcfe to 302 bcfe.
Newfield said it had encouraging results from Uinta's
Central Basin, the Cana Woodford in the Anadarko Basin of
Oklahoma and the Maverick Basin Eagle Ford.
For the second quarter, oil and liquids constituted 49
percent of the total production, the company said.
The company produced 6.1 million barrels of oil (mmbbls) of
oil and liquids, up 40 percent from the year-ago period.
"Our shift to oil, which began in 2009, continues as more
than half of our expected production in the second half of 2012
will be oil/liquids," Chief Executive Lee Boothby said.
Newfield shares, which have lost about 57 percent of their
value in the last year, rose 4 percent t0 $32.63 on the New York
Stock exchange on Thursday.